73-75 Hanmer St · East Hartford, CT 06108

$419,900

16 bd · 16.0 ba · 2,684 sqft · MultiFamily · 5 Days on market

Built 1900 Good condition 4,356 sqft lot $156/sqft · 6% above area Est $395k · 6% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.7/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

HIGHEST AND BEST OFFERS DUE BY 5PM 5/11. Welcome to this well-maintained 4-family property at 73-75 Hanmer Street in East Hartford offering a fantastic investment opportunity. Each unit features a consistent 1-bedroom, 1-bath layout across two levels, including a spacious living room with closet, full kitchen with breakfast nook and access to a private balcony, full bath, and generously sized bedroom. The property includes a clean, dry basement with ample storage, separate utilities and mechanicals for each unit, as well as plenty of off-street parking. Newer roof and windows adds to the overall value and peace of mind. Fully tenant-occupied, providing immediate cash flow for both seasoned

Key facts

• 4,356 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Exterior

• Parking: Paved off-street parking; 4 total parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Multi-family property (4-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Level lot; Vinyl siding; White exterior

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Hot water heating; Natural gas hot water supply
• Interior features: 12 total rooms; Full, unfinished basement with storage
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $420k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $822/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $420k).
• Cap rate 15.7% vs local median 4.1% in East Hartford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#76 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, commute A-; Watch: amenities F, health & safety F.
• East Hartford School District (urban): math 17% / reading 30% proficiency, ranked #140 of 153 in CT (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dr. John A. Langford School (math 22% / reading 32%, grade F, #401 of 553 statewide, top 74%, 320 students, 69% FRL); East Hartford Middle School (math 12% / reading 26%, grade F, #163 of 175 statewide, top 94%, 890 students, 70% FRL); East Hartford High School (math 11% / reading 33%, grade F, #156 of 194 statewide, top 82%, 1,698 students, 63% FRL).
• Market conditions: 53 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $7,834/mo this rent would consume 166% of the median local household income ($57k/yr) (locally 1205% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $118k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $419,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.87% ✓
• Cap rate: 15.69%
• Cash-on-cash: 33.55%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (median comp): $395,197
• List price: $419,900
• Delta: 6.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.20×
• Total profit: $141,429
• Equity at exit: $62,608

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $393,209
• Equity at exit: $36,305

Cash invested: $117,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06108

• Home prices YoY: -17.6%
• Active inventory: 53
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $7,834 medium
• Mortgage (P&I): −$2,202
• Tax est. 1.5%: −$525 /mo · $6,298/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,645
• Net cashflow: $3,287

Break-even live

Break-even rent $3,673

Max offer price $419,900

Occupancy floor 53%

Sensitivity live

Price	-10% $3,577	-5% $3,432	+0% $3,287	+5% $3,142	+10% $2,997
Rent	-10% $2,668	-5% $2,978	+0% $3,287	+5% $3,596	+10% $3,906
Rate	-1.0pp $3,498	-0.5pp $3,394	base $3,287	+0.5pp $3,178	+1.0pp $3,068

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$7,832
Total (4 units)			$7,834

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $104,975
• Closing costs: $12,597
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   status Under Contract 885-char remark
2. 2026-05-07
   listed $419,900 Active 885-char remark
3. 2026-05-04
   historical $419,900 885-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $94,008
• − Mortgage interest: −$23,521
• − Property taxes: −$6,298
• − Insurance: −$2,100
• − Repairs & maintenance: −$7,521
• − Management: −$7,521
• − Depreciation: −$12,215
• Taxable income: $34,833
• Est. tax owed @ 24.0%: −$8,360
• After-tax cash flow: $31,084/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 3 photos

Good 80/100 Cosmetic rehab

This 4-family property is in excellent condition with no visible repairs needed. It offers a great investment opportunity with immediate cash flow and potential for value appreciation through minor cosmetic upgrades.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Reorganizing and decluttering interiors — Improves flow and makes spaces more inviting
• Both Upgrading kitchen appliances — Modernizes the space and attracts more buyers/renters

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Reorganizing and decluttering interiors — Improves flow and makes spaces more inviting ↑
• Both Upgrading kitchen appliances — Modernizes the space and attracts more buyers/renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Hartford School District
• NCES district ID: 0901260
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $49,691
• Composite: 20.74/100
• National rank: #8519
• State rank: #140 of 153 in CT

Livability — East Hartford

• Score: 73/100
• State rank: #76
• US rank: #5527

Category grades

Amenities F Commute A- Cost of living A- Crime A Employment B- Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Hartford, CT
• County: Hartford County · 754,208 people
• City population: 50,918
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 23,499
• Household income: $56,663
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1205.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 44% Black 26% White 23% Two or more races 18% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 28% Dominican 2% Salvadoran 1%
• Common ancestry: Romanian 4% Lithuanian 4% Estonian 2%
• Foreign-born: 22% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 35% Other Indo-European 3% French/Haitian/Cajun 2%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.15%
• Current HPI: 306.0426
• Rent YoY: —
• Metro: Hartford-East Hartford-Middletown, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+7.2% since first listed

4 events — show timeline

• 2026-06-04 Sold (MLS) $450,000 Smart MLS
• 2026-05-12 Pending — Smart MLS
• 2026-05-07 Listed $419,900 Smart MLS
• 2026-05-04 Coming Soon $419,900 Smart MLS